JOYY (NASDAQ:YY) Shares Up 1.5% – Should You Buy?

Shares of JOYY Inc. (NASDAQ:YY) were up 1.5% during trading on Friday . The company traded as high as $42.60 and last traded at $42.28. Approximately 107,817 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 496,695 shares. The stock had previously closed at $41.64.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Benchmark reissued a “hold” rating on shares of JOYY in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd.

JOYY Price Performance

The company has a market capitalization of $2.29 billion, a PE ratio of 12.85 and a beta of 0.27. The company has a 50 day moving average of $36.96 and a two-hundred day moving average of $34.80.

Institutional Investors Weigh In On JOYY

A number of hedge funds and other institutional investors have recently bought and sold shares of YY. Geode Capital Management LLC grew its stake in shares of JOYY by 1.2% in the third quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider’s stock worth $2,615,000 after acquiring an additional 877 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in JOYY in the 3rd quarter worth about $4,383,000. Whitefort Capital Management LP boosted its stake in JOYY by 168.3% in the 3rd quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock worth $20,507,000 after purchasing an additional 354,932 shares in the last quarter. Athos Capital Ltd grew its position in JOYY by 9.4% during the 3rd quarter. Athos Capital Ltd now owns 54,900 shares of the information services provider’s stock valued at $1,990,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Hhlr Advisors LTD. bought a new stake in JOYY during the 3rd quarter valued at about $1,087,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.

About JOYY

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.